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Ripple’s RLUSD stablecoin has crossed $500 million in circulating supply just seven months after launch, signaling rapid adoption as the company deepens its push into regulated finance.
What’s the Scoop?
- Fast Growth: RLUSD, launched in December 2024, now ranks among the top 20 U.S. dollar stablecoins with ~$26M in daily volume, per CoinGecko.
- Dual-Chain Issuance: The stablecoin is minted on both the XRP Ledger and Ethereum.
- Bank Charter Ambitions:
Ripple is seeking a U.S. national trust-bank charter, which would allow it to issue RLUSD under federal banking rules and hold customer deposits directly. - Competitive Landscape: USDC issuer
Circle is also pursuing a similar license, aiming to strengthen its role as a federally supervised crypto-native bank.
